13. CLIMATE ACTION

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Given Average Rating of “Moderate Buy” by Brokerages – Defense World

Written by Amanda

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFMGet Rating) has received an average recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $16.67.

HYFM has been the subject of several analyst reports. Truist Financial dropped their price target on shares of Hydrofarm Holdings Group from $50.00 to $30.00 in a research report on Monday, March 28th. JPMorgan Chase & Co. lowered their price target on shares of Hydrofarm Holdings Group from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, March 2nd. Wells Fargo & Company reduced their price objective on shares of Hydrofarm Holdings Group from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 15th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Hydrofarm Holdings Group from $36.00 to $18.00 in a research note on Wednesday, May 11th. Finally, UBS Group downgraded shares of Hydrofarm Holdings Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $8.00 in a report on Wednesday, May 11th.

Shares of NASDAQ:HYFM opened at $4.12 on Monday. The company’s fifty day moving average price is $7.27 and its 200-day moving average price is $15.24. The firm has a market capitalization of $184.83 million, a price-to-earnings ratio of -11.77 and a beta of 1.23. Hydrofarm Holdings Group has a one year low of $3.88 and a one year high of $60.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.94 and a quick ratio of 0.80.

Hydrofarm Holdings Group (NASDAQ:HYFMGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The company had revenue of $111.38 million during the quarter, compared to the consensus estimate of $128.58 million. Hydrofarm Holdings Group had a positive return on equity of 1.44% and a negative net margin of 3.09%. As a group, equities research analysts expect that Hydrofarm Holdings Group will post 0.08 EPS for the current year.

A number of hedge funds have recently bought and sold shares of HYFM. Massachusetts Financial Services Co. MA bought a new position in Hydrofarm Holdings Group during the fourth quarter valued at $38,430,000. AdvisorShares Investments LLC grew its holdings in shares of Hydrofarm Holdings Group by 452.7% in the fourth quarter. AdvisorShares Investments LLC now owns 1,630,388 shares of the company’s stock worth $46,124,000 after purchasing an additional 1,335,417 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Hydrofarm Holdings Group by 472.1% in the first quarter. Alyeska Investment Group L.P. now owns 912,818 shares of the company’s stock worth $13,829,000 after purchasing an additional 753,262 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in shares of Hydrofarm Holdings Group by 16.6% in the fourth quarter. Wasatch Advisors Inc. now owns 3,031,914 shares of the company’s stock worth $85,773,000 after purchasing an additional 431,229 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Hydrofarm Holdings Group by 444.3% in the first quarter. Allianz Asset Management GmbH now owns 367,534 shares of the company’s stock worth $5,568,000 after purchasing an additional 300,004 shares during the last quarter. Institutional investors and hedge funds own 63.20% of the company’s stock.

About Hydrofarm Holdings Group (Get Rating)

Hydrofarm Holdings Group, Inc, together with its subsidiaries, engages in the manufacture and distribution of controlled environment agriculture (CEA) equipment and supplies in the United States and Canada. The company offers agricultural lighting devices, indoor climate control equipment, hydroponics and nutrients, and plant additives used to grow, farm, and cultivate cannabis, flowers, fruits, plants, vegetables, grains, and herbs in controlled environment; and distributes CEA equipment and supplies, which include grow light systems; heating, ventilation, and air conditioning systems; humidity and carbon dioxide monitors and controllers; water pumps, heaters, chillers, and filters; nutrient and fertilizer delivery systems; and various growing media made from soil, rock wool or coconut fiber.

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Source: defenseworld.net

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai